"Job losses are always regrettable but the government acknowledges that this is a commercial decision taken by Qantas," Albanese said in a statement.

Under the Qantas Sale Act, the company's main operational base and headquarters must remain in Australia and total foreign ownership cannot exceed 49%. The Qantas name should also be preserved for scheduled international passenger services and the company must be incorporated in Australia. The chairman must be an Australian citizen and at least two thirds of the board must also be citizens.

"The government strongly supports these provisions being maintained to ensure that Qantas remains an iconic Australian brand," Albanese said.

Meanwhile, upper house lawmaker Nick Xenophon plans to introduce a bill into parliament seeking support to force Qantas to apply domestic employment conditions to crew members hired on foreign terms.

The bill will be introduced Wednesday and will seek to amend the Air Navigation Act and Civil Aviation Act to require Australian airlines and subsidiaries to offer the same benefits to flight and cabin crew not directly hired by the airline.

"If you are employed by an Australian airline, flying on an Australian registered plane, you should be employed under Australian standards," Xenophon said in a statement. "Qantas can't call Australia home any more with any credibility." The lawmaker said the bill has the backing of the Australia Council of Trade Unions.

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